Latest Articles
Statutory Conditions under Section 16(2) Must Precede ISD Distribution: Madras HC
Corporate Law : The court held that possession of a tax invoice does not automatically create ITC entitlement. Credit can be distributed only afte...
Simplified Customs Procedure for Return of Export Cargo due to Strait of Hormuz Disruption
Custom Duty : The circular permits unloading of returned export cargo and cancellation of Shipping Bills under special conditions. Export incent...
Direct Tax Proposals In Union Budget 2026: A Comprehensive Analysis
Income Tax : The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The...
Transitioning to 2026 ECB Framework: A Comparative Guide for Indian Entities
Fema / RBI : The 2026 amendment replaces rigid interest rate ceilings with market-determined pricing. The reform expands borrowing flexibility ...
Freezing of Personal Assets of Directors for GST Liability of the Company
Goods and Services Tax : Can GST authorities freeze directors’ personal assets for company dues? Legal analysis of Sections 79, 83 & 89 CGST Act with key...
Latest News
AI Data Analysis Triggers Nationwide Survey on Restaurants for Suppression of Sales
Income Tax : The Income Tax Department conducted surveys across multiple cities after AI analysis revealed significant discrepancies between tr...
Online Empanelment for Concurrent Audit of Central Bank of India
CA, CS, CMA : Apply online for Concurrent Audit assignments with Central Bank of India for the financial year 2026-27. Check eligibility and req...
Draft RBI (Rural Co-operative Banks – Responsible Business Conduct) Third Amendment Directions, 2026
Fema / RBI : RBIs draft amendment introduces stronger customer protection rules for electronic banking fraud in rural co-operative banks. Custo...
Draft RBI (Urban Co-operative Banks – Responsible Business Conduct) Third Amendment Directions, 2026
Fema / RBI : Urban Co-operative Banks must send instant SMS alerts for transactions exceeding ₹500 and email alerts wherever available. The r...
Draft RBI (Regional Rural Banks – Responsible Business Conduct) Third Amendment Directions, 2026
Fema / RBI : RBI’s draft amendment strengthens customer protection by shifting the burden of proving negligence to Regional Rural Banks. It m...
Latest Judiciary
SC held Arbitral Tribunal coudn’t grant pre-award or pendente lite interest when contract prohibited It
Corporate Law : Once the parties had contractually agreed to exclude interest, Arbitral Tribunal, being a creature of the contract, could not awar...
NCLT Rejects Shikhar Dhawan’s Insolvency Plea in LLC Payment Dispute Citing Contractual Ambiguity
Corporate Law : The tribunal noted that the invoice was issued before the alleged execution date of the agreement, raising questions about the aut...
Company Property Lease Cancelled as Transaction Was Sham and Not at Arm’s Length
Company Law : Official Liquidator Vs Kirloskar Institute (Karnataka High Court) The Karnataka High Court considered an appeal filed by the Offic...
Section 68 Addition Cannot Be Sustained When Loans Are Received and Repaid Through Banking Channels
Income Tax : ITAT Delhi deleted additions under Sections 68 and 69C after finding that the assessee received and repaid loans through banking c...
CESTAT Denies Refund of EC, SHEC & KKC as Such Cesses Were Not Subsumed in GST
Service Tax : CESTAT Mumbai held that accumulated credit of Education Cess, SHE Cess, and KKC cannot be transitioned or refunded because these l...
Latest Notifications
98.44% ₹ 2000 Notes Returned After RBI Withdrawal Announcement
Fema / RBI : RBI reported that 98.44% of ₹2000 banknotes in circulation have been returned since the withdrawal announcement in May 2023. How...
RBI Issues Draft Amendment Directions for Review of Framework of Limiting Customer Liability in Digital Transactions
Fema / RBI : RBI issued draft amendment directions to strengthen the framework on limiting customer liability in digital transactions. The prop...
DGFT Extends Export Obligation for Advance Authorisation & EPCG till 31st Aug 2026
DGFT : DGFT granted an automatic extension of the Export Obligation period for Advance and EPCG Authorisations expiring between March and...
EPFO Tightens Pension Conversion Compliance Because Earlier Guidelines Were Not Followed
Corporate Law : EPFO streamlined the process for transferring pension contributions and nominee payments. The instructions aim to avoid procedural...
CBIC Issues Special Procedure for Return of Export Cargo Due to Strait of Hormuz Disruption
Custom Duty : CBIC introduced a temporary customs procedure allowing export cargo returning to India due to Strait of Hormuz disruptions to be h...
Latest Downloads
FAQs
The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small liabilities. Missing deadlines may trigger interest under Sections 424 and 425.
FAQs on TCS under Income Tax Act, 2025 as amended by Finance Bill, 2026, covering rates, exemptions, PAN, returns, due dates, interest and penalties.
Budget 2026 retains existing income tax slabs but revises TCS, STT, and compliance timelines. The key takeaway is simplified procedures, rationalized penalties, and expanded exemptions across sectors.
ITC on bikes and scooters is blocked if used for passenger transport under Section 17(5)(a) of GST. Credit is allowed only in limited cases such as passenger transport, resale, or driving training.
The Enforcement Directorate levied penalties after finding misrepresentation in FDI receipts and improper reporting of foreign inward remittances. The adjudicating authority held that the contraventions were substantial and systemic under FEMA, 1999.
